Cost of Living Comparison Between Iceland and China Cost of Living Comparison Between Iceland and China

Name: China
Address: CN

Monthly Cost of Living

Monthly costs for one person with rent: $1,803 in Iceland versus $720 in China.

Estimated couple costs with rent: $2,687 in Iceland versus $1,148 in China.

Monthly costs for a family of three with rent: $3,570 in Iceland versus $1,576 in China.

Living in Iceland is roughly 150% more expensive than in China on average.

Iceland (31% above) and China (48% below) straddle the global median.

Meal at Budget Restaurant

$28.87 ISK 3,477

$2.93 ¥19.60

885.32%

Three-Course Dinner for Two, Mid-Range

$122 ISK 14.7K

$22.72 ¥152

436.97%

Fast Food Meal (McDonalds, etc)

$23.81 ISK 2,867

$5.07 ¥33.95

369.63%

Cappuccino

$6.49 ISK 781

$2.94 ¥19.70

120.75%

Coke/Pepsi/Fanta/Sprite (0.33 liter bottle)

$3.32 ISK 400

$0.48 ¥3.21

591.67%

Water (0.33 liter bottle)

$3.15 ISK 379

$0.30 ¥2.02

950.00%

Local Beer (0.5 liter draught)

$12.32 ISK 1,484

$1.06 ¥7.10

1062.26%

Imported Beer (0.33 liter bottle)

$12.38 ISK 1,492

$2.25 ¥15.07

450.22%

Milk (1 liter)

$2.05 ISK 247

$1.79 ¥11.99

14.53%

White Bread (500g)

$4.00 ISK 482

$1.70 ¥11.35

135.29%

Rice (white) (1kg)

$3.61 ISK 435

$0.96 ¥6.45

276.04%

Eggs

$6.98 ISK 841

$1.61 ¥10.79

333.54%

Local Cheese (1kg)

$20.45 ISK 2,463

$13.60 ¥91.1

50.37%

Chicken Fillets (1kg)

$25.49 ISK 3,070

$3.41 ¥22.84

647.51%

Beef Round Steak (1kg)

$41.73 ISK 5,027

$11.07 ¥74.2

276.96%

Apples (1kg)

$3.16 ISK 380

$1.81 ¥12.09

74.59%

Banana (1kg)

$2.79 ISK 336

$1.30 ¥8.74

114.62%

Oranges (1kg)

$3.09 ISK 372

$1.48 ¥9.91

108.78%

Tomato (1kg)

$5.95 ISK 716

$1.30 ¥8.72

357.69%

Potato (1kg)

$3.89 ISK 469

$0.72 ¥4.82

440.28%

Onion (1kg)

$1.94 ISK 234

$0.94 ¥6.31

106.38%

Lettuce (1 head)

$3.75 ISK 452

$0.61 ¥4.08

514.75%

Water (1.5 liter bottle)

$1.94 ISK 234

$0.56 ¥3.73

246.43%

Cigarettes 20 Pack (Marlboro, Camel)

$14.21 ISK 1,712

$3.67 ¥24.58

287.19%

Wine (Bottle)

$23.35 ISK 2,812

$11.90 ¥79.7

96.22%

Local Beer (0.5 liter bottle)

$3.75 ISK 452

$0.83 ¥5.56

351.81%

Imported Beer (0.33 liter bottle)

$3.38 ISK 407

$1.65 ¥11.08

104.85%

One-way Ticket (Public Transport)

$5.71 ISK 688

$0.29 ¥1.92

1868.97%

Public Transport Monthly Pass (Regular Price)

$94.5 ISK 11.4K

$22.61 ¥151

317.78%

Taxi Start (Normal Tariff)

$6.59 ISK 794

$1.45 ¥9.72

354.48%

Taxi (Normal Tariff) (1km)

$2.87 ISK 346

$0.34 ¥2.31

744.12%

Taxi 1hour Waiting (Normal Tariff)

$74.2 ISK 8,933

$7.27 ¥48.72

920.08%

Gasoline (1 liter)

$2.29 ISK 276

$1.23 ¥8.26

86.18%

Midsize Hatchback 1.4l (Volkswagen Golf, Toyota Prius, Honda Civic, etc)

$50.4K ISK 6.1M

$19.5K ¥130.9K

157.70%

Compact Sedan 1.6l (Toyota Corolla, Mazda3, Kia K4, Hyundai Elantra, etc)

$55.2K ISK 6.7M

$17.2K ¥115.5K

220.21%

Utilities for 2 People in 2-bedroom Apartment (Heating, Electricity, Gas, Water, Garbage) (85m2)

$99.0 ISK 11.9K

$55.5 ¥371

78.49%

SIM Card Monthly Plan (Calls and 10GB+ Data)

$32.11 ISK 3,867

$8.51 ¥57.0

277.32%

Internet (50+ Mbps, Unlimited Data)

$87.1 ISK 10.5K

$10.81 ¥72.4

705.74%

Gym Membership (Monthly)

$89.8 ISK 10.8K

$40.02 ¥268

124.41%

Tennis Court (1 Hour on Weekend)

$51.5 ISK 6,207

$14.80 ¥99.1

248.24%

Cinema Ticket

$19.34 ISK 2,329

$6.73 ¥45.09

187.37%

Preschool or Kindergarten, Full Day, Private, 1 Child (Monthly)

$958 ISK 115.4K

$454 ¥3,042

111.01%

International Primary School, 1 Child (Yearly)

$31.6K ISK 3.8M

$19.5K ¥130.8K

61.70%

Jeans (Levis 501 Or Similar)

$157 ISK 18.9K

$44.95 ¥301

249.01%

Summer Dress (H&M, Zara, etc)

$49.70 ISK 5,986

$35.81 ¥240

38.79%

Sport Shoes (Adidas, Nike)

$171 ISK 20.6K

$76.8 ¥514

122.91%

Men's Leather Business Shoes

$239 ISK 28.8K

$77.3 ¥518

209.14%

1-bedroom Apartment, City Center (Monthly)

$2,439 ISK 293.8K

$385 ¥2,581

532.87%

1-bedroom Apartment, Outside City Center (Monthly)

$1,988 ISK 239.5K

$242 ¥1,623

720.69%

3-bedroom Apartment, City Center (Monthly)

$3,409 ISK 410.6K

$837 ¥5,603

307.47%

3-bedroom Apartment, Outside City Center (Monthly)

$2,698 ISK 325.0K

$474 ¥3,177

468.78%

Buy Apartment in City Center (m2)

$7,754 ISK 933.9K

$4,619 ¥30.9K

67.85%

Buy Apartment Outside City Center (m2)

$6,360 ISK 766.1K

$2,316 ¥15.5K

174.59%

Average Monthly Net Salary (After Tax)

$4,935 ISK 594.4K

$1,062 ¥7,110

364.82%

20-Year Fixed Mortgage Interest Rate (Annual %)

9.3

3.47

168.01%

CityCost data is based on AI and user input – minor inaccuracies may occur.

Last update for Iceland: September 6, 2026

Last update for China: September 5, 2026

Cost Breakdown

National rent averages: $559 in Iceland, $295 in China. Capital cities: $2,489 in Reykjavik vs $957 in Beijing (Pekin).

National salary averages: $5,043 in Iceland, $865 in China. Higher pay doesn't always mean more spending money – weigh income against local costs.

Cost Highlights

Rent is 89% higher in Iceland.

Dining out costs 276% more in Iceland.

Salaries are 483% higher in Iceland, and purchasing power comes out stronger in Iceland.

City Median Internet Speeds Comparison (Updated April 2026)

The chart highlights the Precision Threshold for mobile and fixed broadband internet speeds, updated quarterly.

Digital Nomad Cost of Living Index

Iceland vs China: Cost of Living - Frequently Asked Questions

At $852 per month in China and $1,972 in Iceland, there's a 131% gap. Keep in mind it varies by city – the difference can be bigger or smaller depending on where you settle within each country.

Day-to-day life is simply cheaper in China: lower food prices, cheaper commutes, smaller household bills. Over time, those daily savings make a real difference to your monthly budget and ability to put money away.

Rent in Iceland is consistently higher than in China across the board, especially in major cities. Housing is usually the single biggest driver of the overall cost difference between the two countries.

In China, $2,000 covers most cities easily; in Iceland it stretches only to regional areas and falls short in the capital – you'll need to make trade-offs on housing or lifestyle.

It depends on what you're after: China wins on affordability; Iceland may offer higher salaries, better infrastructure, and different cultural perks. Both attract large expat communities for different reasons.